Rep. Michael Guest Purchases Shares of Tesla, Inc. (NASDAQ:TSLA)

Representative Michael Guest (R-Mississippi) recently bought shares of Tesla, Inc. NASDAQ: TSLA. In a filing disclosed on December 20th, the Representative disclosed that they had bought between $1,001 and $15,000 in Tesla stock on November 8th. The trade occurred in the Representative's "TR - D1" account.

Representative Michael Guest also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of monday.com NASDAQ: MNDY on 11/8/2024.

Tesla Trading Up 7.4 %

TSLA traded up $31.68 during midday trading on Tuesday, hitting $462.28. 59,551,754 shares of the company were exchanged, compared to its average volume of 95,172,773. The firm's 50 day moving average price is $327.11 and its 200-day moving average price is $258.83. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market capitalization of $1.48 trillion, a P/E ratio of 126.65, a P/E/G ratio of 10.80 and a beta of 2.36. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the business posted $0.53 EPS. Tesla's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Clean Energy Transition LLP raised its position in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer's stock worth $953,505,000 after acquiring an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC lifted its stake in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock valued at $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer's stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 514,886 shares of company stock valued at $169,393,831. Corporate insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Tesla from $197.00 to $226.00 and gave the stock a "sell" rating in a report on Monday, November 25th. Oppenheimer reissued a "market perform" rating on shares of Tesla in a report on Tuesday, October 8th. Wells Fargo & Company boosted their target price on shares of Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Barclays raised their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. Finally, Roth Mkm upgraded Tesla from a "neutral" rating to a "buy" rating and upped their target price for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $272.06.

About Representative Guest

Michael Guest (Republican Party) is a member of the U.S. House, representing Mississippi's 3rd Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2025. Guest (Republican Party) ran for re-election to the U.S. House to represent Mississippi's 3rd Congressional District. He won in the general election on November 8, 2022. Guest received his bachelor's degree from Mississippi State University in 1992. He received his J.D. from the University of Mississippi in 1995. He served as an assistant district attorney for Madison and Rankin counties in Mississippi from 1995 to 2007. He was elected district attorney of these counties in 2007. In 2018, Guest defeated Michael Evans (D) to replace outgoing incumbent Gregg Harper (R).

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.